513,000 Shares in QuantumScape Corporation $QS Purchased by Jump Financial LLC

Jump Financial LLC acquired a new stake in QuantumScape Corporation (NYSE:QS) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 513,000 shares of the company’s stock, valued at approximately $2,134,000.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in QuantumScape in the fourth quarter worth approximately $1,527,000. Barclays PLC lifted its stake in shares of QuantumScape by 4.8% in the 4th quarter. Barclays PLC now owns 109,339 shares of the company’s stock valued at $567,000 after purchasing an additional 5,006 shares during the last quarter. Dimensional Fund Advisors LP increased its position in QuantumScape by 55.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,814,127 shares of the company’s stock worth $30,183,000 after buying an additional 2,066,844 shares during the last quarter. Stifel Financial Corp increased its position in QuantumScape by 13.4% during the fourth quarter. Stifel Financial Corp now owns 153,503 shares of the company’s stock worth $797,000 after buying an additional 18,186 shares during the last quarter. Finally, Dark Forest Capital Management LP bought a new position in QuantumScape during the fourth quarter valued at about $74,000. 29.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Fritz Prinz sold 929,813 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $11.62, for a total transaction of $10,804,427.06. Following the completion of the transaction, the director directly owned 161,343 shares in the company, valued at $1,874,805.66. This represents a 85.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael O. Mccarthy III sold 500,000 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $11.60, for a total transaction of $5,800,000.00. Following the transaction, the insider owned 1,467,183 shares in the company, valued at approximately $17,019,322.80. The trade was a 25.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,956,517 shares of company stock worth $34,977,013 over the last three months. Company insiders own 5.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Robert W. Baird raised their price objective on QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. TD Cowen upgraded QuantumScape to a “hold” rating in a report on Monday, July 7th. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, QuantumScape presently has a consensus rating of “Reduce” and a consensus price target of $5.90.

QuantumScape Trading Down 3.7%

Shares of QS stock opened at $8.03 on Thursday. The firm has a fifty day moving average of $8.75 and a 200-day moving average of $5.82. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -9.33 and a beta of 4.43. QuantumScape Corporation has a 52-week low of $3.40 and a 52-week high of $15.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.40 and a current ratio of 16.40.

QuantumScape (NYSE:QS) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $36.67 million for the quarter. During the same period in the prior year, the company earned ($0.25) earnings per share. On average, equities research analysts forecast that QuantumScape Corporation will post -0.82 earnings per share for the current fiscal year.

QuantumScape Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.